Also in 2016, Citi Ventures saw in Feedzai an opportunity to accelerate innovation and growth at Citi and made a strategic investment during a time when Feedzai was considered the only “potential unicorn” (company valued at more than one billion dollars) in Portugal.

“The most exciting part about being recognized for our growth potential is knowing that the best is yet to come for Feedzai, its people and clients,” said CEO and Co-Founder Nuno Sebastião in 2017.

With offices in Lisbon, Porto, Coimbra, Silicon Valley, New York and the United Kingdom, the Portuguese startup developed anti-fraud software through a prevention platform based on machine learning and big data to make safer trades for business customers.

Founded by Sebastião, Paulo Marques, and Pedro Bizarro in 2009, today the startup is valued at €66 million, according to the Forbes ranking.

The team had its beginnings in university research and at the European Space Agency. Now, it is propelling all that DNA forward and towards building a big platform to speed the business of risk management into the future.

Feedzai established its corporate headquarters in the United States in 2013. Named a Gartner Cool Vendor in 2011, its customers leverage a seamless combination of big data, real-time processing and machine learning software.

Focused on the electronic fraud detection and prevention market, Feedzai achieved its first year of profitability 18 months after its first product availability and is now supporting Year-over-Year (YoY) growth of 300%.

The world’s largest banks, payment providers and retailers use Feedzai’s machine learning technology to manage risks associated with banking and shopping, whether it’s in person, online or via mobile devices, according to Feedzai’s website.